Bitsies is the name of a new P2P content network that merges blockchain technology with gamification methods to create truly global access to a monetized network. Monetizing online content through a medium where everyone expects things for free has always been a hurdle faced by companies large and small, people far and wide. Bitsies is also the name of the token that is used on the Bitsies network to send “Tipsies” to the content creators. Users will be able to upload videos, images, audio, and text to the Bitsies network and set a certain amount of Bitsies tokens necessary to “unlock” the content.
Bitsies has been teasing the public with their functionality for a few weeks now on their website: Bitsi.es. On their site, they showcase the unique way in which they will present content before and after “Tipsies” have been sent. Bitsies is being developed by a company called Coyns, led by an all-star team including Chief Catalyst Chris Sweis, CEO Patrick Chung, and CTO Raghu Sastry. CEO Patrick Chung explained to CCN.com why digital currencies are crucial to his business plan:
Bitsies gives anyone anywhere with a mobile device the ability to earn bitcoins and Bitsies by uploading unique, fresh and engaging content and letting fans unlock it. Decentralized digital currency helps our business by breaking down payment barriers, which allows several important things to happen. First, there are no more geographical barriers to having fans pay for digital content. Almost every payment processor is geographically based and is limited to folks who have credit cards. PayPal is an exception, but is terrible in countries where banking infrastructure is lacking. Second, content owners are paid immediately, so there is no more need to wait for the payment processor to pay, and they don’t need to worry about fraud or chargebacks. Finally, fees are low, which allows us to offer micro-transactions to our users.
The Bitsies team already has major partners lined up to populate the coming Bitsies network, both as content creators and tippers. Furthermore, as a mobile app first and foremost, Bitsies will be integrating world-class security measures to make sure that the content remains within the network. The hope is that nothing untoward will be “snappening” here. Chung also hopes that new users will find novel uses for the new network as well. He shared a few use cases that keep coming to mind:
We believe that musicians could get their global fans to support their music by having fans unlock the musician’s music, pictures, and videos. Also, charities such as animal shelters could release locked pictures and have supporters around the world unlock the content. The charity gets money and the supporter gets a cute picture.
How would you use the Bitsies network? Comment below!
Bitsies network images from Bitsies; other images from Shutterstock.